Free Trial

Sterling improves further as Brexit deal......>

FOREX
FOREX: Sterling improves further as Brexit deal edges closer
-GBP, alongside the JPY, modestly improved Friday morning as further reports
suggested a Brexit withdrawal deal could be nearing fruition. Reuters cited
sources in reporting that EU negotiators believe a divorce deal with Britain is
'very close'. GBP/USD improved up towards $1.3060 before retracing slightly, but
remains stronger against most others.
-JPY continues to rebound as global equity markets soften further. Core European
equity indices trade lower by 0.5-0.8%, helping press USD/JPY firmly back below
the Y114 mark.
-NOK is the poorest performer among G10 FX as WTI crude futures sit just above
yesterday's lows. EUR/NOK rallied above the 9.50 mark in early Europe.
-Focus turns to the Nonfarm Payrolls report at 1330BST, with markets cognizant
of the risks of an upside surprise to today's numbers. The median estimate sits
at 185K, while the whisper numbers sits north of 200K. Much attention, as ever,
will be on average hourly earnings, forecast to slow to 0.3% from 0.4%, although
the market eyes downside risks after such a high August print.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.